San Antonio Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty - Long Form

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• City: San Antonio
• Control #: US-OG-518
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease, convertible to a working interest. San Antonio, Texas, Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document that outlines the transfer of an overriding royalty interest from a working interest owner to another party in the oil and gas industry. This document is commonly used in San Antonio, Texas, where the oil and gas industry plays a significant role in the local economy. In this type of assignment, the party transferring the overriding royalty interest (assignor) relinquishes their rights to a portion of the royalties generated from the production of oil and gas on a specific property. The party receiving the interest (assignee) becomes entitled to a percentage of the revenue generated from the working interest. This assignment may involve multiple leases, meaning that the overriding royalty interest is being assigned across various parcels of land or oil and gas leases. The document must specify the details of each lease involved, including the legal description, acreage, and any specific terms or conditions. It is crucial for both parties to understand that this assignment is made on a limited warranty basis. This means that the assignor guarantees their rights to the overriding royalty interest but does not provide a full warranty regarding the title or quality of the interest being transferred. The assignee must conduct due diligence to ensure the validity of the assignment and should seek legal counsel if necessary. Different types of San Antonio, Texas, Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form may exist depending on specific conditions or variations in the terms of the assignment. Some possible variations could include: 1. Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Short Form: A condensed version of the long form document, providing a concise overview of the assignment. 2. Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Expanded Form: A more detailed version of the long form document, including additional provisions or clauses to address specific circumstances or requirements. 3. Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Cross-Agreements: An assignment that involves multiple parties, each transferring a portion of their overriding royalty interest to one another, creating a complex interplay of interests and responsibilities. In conclusion, the San Antonio, Texas, Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document that facilitates the transfer of an overriding royalty interest in the oil and gas industry. It aims to protect the rights and interests of both the assignor and assignee while outlining the specifics of the assignment, including multiple leases and limited warranty provisions.

San Antonio, Texas, Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document that outlines the transfer of an overriding royalty interest from a working interest owner to another party in the oil and gas industry. This document is commonly used in San Antonio, Texas, where the oil and gas industry plays a significant role in the local economy. In this type of assignment, the party transferring the overriding royalty interest (assignor) relinquishes their rights to a portion of the royalties generated from the production of oil and gas on a specific property. The party receiving the interest (assignee) becomes entitled to a percentage of the revenue generated from the working interest. This assignment may involve multiple leases, meaning that the overriding royalty interest is being assigned across various parcels of land or oil and gas leases. The document must specify the details of each lease involved, including the legal description, acreage, and any specific terms or conditions. It is crucial for both parties to understand that this assignment is made on a limited warranty basis. This means that the assignor guarantees their rights to the overriding royalty interest but does not provide a full warranty regarding the title or quality of the interest being transferred. The assignee must conduct due diligence to ensure the validity of the assignment and should seek legal counsel if necessary. Different types of San Antonio, Texas, Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form may exist depending on specific conditions or variations in the terms of the assignment. Some possible variations could include: 1. Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Short Form: A condensed version of the long form document, providing a concise overview of the assignment. 2. Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Expanded Form: A more detailed version of the long form document, including additional provisions or clauses to address specific circumstances or requirements. 3. Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Cross-Agreements: An assignment that involves multiple parties, each transferring a portion of their overriding royalty interest to one another, creating a complex interplay of interests and responsibilities. In conclusion, the San Antonio, Texas, Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document that facilitates the transfer of an overriding royalty interest in the oil and gas industry. It aims to protect the rights and interests of both the assignor and assignee while outlining the specifics of the assignment, including multiple leases and limited warranty provisions.